"Jon was a terrific host for the 78th Awards," Cates said. "He is smart, quick, funny, loves movies and is a great guy. What else could one ask for?"

Best known for hosting The Daily Show, his Emmy-winning "fake" news show on the Comedy Central, Stewart hosted the award show in 2006 for 38.9 million viewers.

Ellen DeGeneres pulled in 39.9 million viewers, but neither comedians came close to the 55 million viewers who watched Billy Crystal making one of his eight appearances as host in 1998, the year Titanic swept the awards.